Gunnar Rathbun / AP

It has been just over one year since Walmart agreed to pay $3 billion to acquire Jet.com, an e-commerce platform that was better known for its fundraising prowess than its consumer name recognition. It was viewed by many to be the largest acqui-hire of all time — focused on Jet's founding CEO Marc Lore, who previously co-founded Quidsi (a.k.a. Diapers.com) — and skepticism was easy to find. Some went so far as to call it "a terrible mistake."

Fast-forward: Then came this past Tuesday, when Walmart publicly predicted 40% growth in e-commerce sales for the fiscal year ending January 2019, at a stable pace of profit growth. Shares climbed 4.47%, representing a $10.75 billion increase in market cap. Since then, shares have climbed another 2.4%.

ROI: Tuesday's gain alone represents more than a 3x multiple on what Walmart paid to acquire Jet.com. And, yes, it remains at around around 3x even if we include subsequent Walmart e-commerce purchases like Bonobos, Modcloth, ShoeBuy and Moosejaw.

Caveat: To be sure, e-commerce growth wasn't Walmart's only announcement on Tuesday. It also revealed plans for a large share buyback ($20b over two years), but it was that 40% growth figure that really drove the day.

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Supreme Court denies Pennsylvania GOP request to limit mail-in voting

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The Supreme Court on Monday denied a request from Pennsylvania's Republican Party to shorten the deadlines for mail-in ballots in the state. Thanks to the court's 4-4 deadlock, ballots can be counted for several days after Election Day.

Why it matters: It's a major win for Democrats that could decide the fate of thousands of ballots in a crucial swing state that President Trump won in 2016. The court's decision may signal how it would deal with similar election-related litigation in other states.

Microphones will be muted during parts of Thursday's presidential debate

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The Commission on Presidential Debates adopted new rules on Monday to mute microphones to allow President Trump and Joe Biden two minutes of uninterrupted time per segment during Thursday night's debate, AP reports.

Why it matters: In the September debate, Trump interrupted Biden 71 times, compared with Biden's 22 interruptions of Trump.

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Illustration: Annelise Capossela/Axios

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